Worthy of Tweeting if I Tweeted:

Standard

If you turned 70½ in 2016 and did not take your first required minimum distribution from your IRA, you must do so by April 1, 2017.

Itemized deductions for 2016 may be limited if your adjusted gross income exceeds $259,400 (single) or $311,300 (married).
Tax refunds: Choose a paper check or direct deposit in up to three different accounts.

If you contributed to a Traditional IRA, Roth IRA, a myRA, or other retirement plan in 2016, ask us about the “saver’s credit.”

If you are required to file 1099-INT forms electronically, they are due March 31.
If you own foreign investments, you may have to file Form 8938 with your individual tax return for 2016.

Look for carryover items from prior years that could reduce your 2016 taxes – such as excess capital losses and gifts to charity.

The IRS tool Where’s my Refund? (https://www.irs.gov/refunds) updates once per day, so there’s no need to check more often than that.

If your child’s only 2016 income was wages of less than $6,300, no tax return needs to be filed except to get a refund of withheld income tax.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s